ECONOMIC OPPORTUNITIES

New initiative to tap African diaspora investment in Kenya

The country will be the second in Africa to host Year of Return, a campaign that mobilises black people from across the globe.

In Summary
  • The campaign was pioneered by President of Ghana Nana Akufo Ado in 2019 as a mechanism of reviving the tourism sector and boost its foreign remittance.
  • It was billed as a major landmark spiritual and birthright journey inviting the global African family to reconnect, heal and rebuild the homeland.
Council of Governors chair Anne Waiguru and US Ambassador Meg Whitman during investment conference at Tom Mboya University in Homa Bay county on Wednesday, February 27, 2024.
REVENUE STREAMS: Council of Governors chair Anne Waiguru and US Ambassador Meg Whitman during investment conference at Tom Mboya University in Homa Bay county on Wednesday, February 27, 2024.
Image: PCS

Kenya could soon open its doors to people of African descent if the aspirations of a new initiative is adopted by the government.

The country will be the second in Africa to host the Year of Return, an initiative that mobilises black people in the Americas, Caribbean, Europe and Asia to integrate back into the continent and be much more involved in its affairs.

George Kegode, one of the conveners, said that the government needs to support the initiative as it will attract foreign investment and promote tourism.

“The Year of Return is a drive to open up Kenya in particular and Africa in general to African diaspora so that they come back and invest here, create jobs and build their stake in the local societies,” he said.

“Like Ghana did, we see this as opportunity for Kenyan leaders like President William Ruto to step forward to mobilise black people all over the globe. This has many good things for the country and the continent.”

The campaign was pioneered by President of Ghana Nana Akufo Ado in 2019 as a mechanism of reviving the tourism sector and boost its foreign remittance.

It was billed as a major landmark spiritual and birthright journey inviting the global African family - home and abroad - to reconnect, heal and rebuild the homeland.

The Year of Return Kenya 2024 will run in October 8 to 9, 2024 at Sarit Centre, featuring participants from key sectors such as film, art, business, entrepreneurship and technology, among others.

Organisers of the Kenyan edition said that the underlying principle of the initiative is that the continent is a major market given its youth population bulge, abundant natural resources and vibrant technology.

“Africa is blessed with a wealth of natural resources and vibrant young minds. The Year of Return, Africa 2024, aims to empower African youth and businesses through innovation, entrepreneurship and skill-building initiatives,” the website promoting the initiative reads.

Organisers said the two-day summit will see masterclasses hosted by specialist in various fields for attendees who would be interested to hone their skills and network with players abroad.

For example, renown Hollywood actor and film director Peter Macon will host a masterclass on the art of acting, directing and stagecraft, exploring different theatrical forms such as classical and contemporary theatre and on industry insights and career development.

“The YoRA 2024 in Kenya is focusing on showcasing the untapped potential in the art and culture sector, exposing it to the visiting African diaspora and encourage their involvement.," Kegode said. 

"Kenya’s tourism must not just be about wild animals and scenic views but we can double down on culture and arts as a major area of revenue earner.

“And during those masterclasses, networking a key aspect that then given unexpected breakthrough. Who knows what the networks developed can turn into?”

The organisers also say the summit will bring together traders and start-ups to exchange ideas on scaling their enterprises beyond the borders and how to overcome economic challenges. 

“Key streams at the event this year are: [discussion on the] ecosystem needed for the intra-Africa trade and challenge to empower one million youth entrepreneurs, and key foundations and secrets to make Unicorn (one-billion-dollar companies) in Africa,” Kegode said. 

Others are “The business of sports, film and theatre through engaging workshops and roads to become a superstar and access to critical resources and general wealth creation methods.”

To build up to the summit, organisers have lined-up roadshows in Washington, DC, New York, Miami,  Minneapolis and Nairobi to mobilise   individuals and corporates.

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